Historic Live/Work
For Sale
$500,000
2543 Eliot St, Denver, CO 80211
G-MS-3 zoning supports a flexible combination of residential living and commercial activity.
Property Size1,264 SF
Days on Market146
Property Features for 2543 Eliot St
General Information
Standard status
Active
Size
1,264 SF
Property subtype
Duplex
Zoning
G-MS-3
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,873
Amenities
deck
shared backyard
in-unit laundry
skylight
Building Details
Building Size
1,264 SF
Year Built
1883
Buildings
1
Listing Agency:
Compass - Denver
Listed By:
Jen Miller
(303) 521-0816
Source:
Corken
Added: Apr 10
Changed: Aug 30
Last Checked: Aug 31 at 9:25PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Compass - Denver
Investment Insights
Based on property information with market context.
Built in 1883, this duplex combines original architectural elements with contemporary improvements and adaptable space. The main level offers an open layout, while the upper floor includes two bedrooms, a non-conforming third room, generous closets, and a skylit hallway. A deck and large shared backyard extend the usable space, and the basement provides substantial storage and in-unit laundry. A newer roof and furnace add to the recent updates.
The lower level can accommodate business use while the upper portion functions as a residence, consistent with the property's G-MS-3 zoning. The address is steps from the shops and restaurants along 25th Ave, three blocks from Mile High Stadium, and five minutes from Downtown Denver.
The lower level can accommodate business use while the upper portion functions as a residence, consistent with the property's G-MS-3 zoning. The address is steps from the shops and restaurants along 25th Ave, three blocks from Mile High Stadium, and five minutes from Downtown Denver.
Key Highlights
- 1883 duplex with original architectural details and contemporary updates
- G‑MS‑3 zoning supports live/work use
- Two bedrooms plus a non‑conforming third room
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,006
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.20%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$420,120
$420.1K
Cap Rate 7%
$300,086
$300.1K
Cap Rate 9%
$233,400
$233.4K
Market Conditions
NOI Build-Up for 1,264 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$31.9K $25.20/SF
− Vacancy
−$1.8K −$1.46/SF
EGI
$30.0K $23.74/SF
− OpEx
−$9.0K −$7.12/SF
NOI
$21.0K $16.62/SF
Area
Denver, CO
Vacancy
5.79%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$420,120
Cap Rate 7%
$300,086
Cap Rate 9%
$233,400
Alternative Uses
Best Use
Multifamily LT 5
$300.1K
$262.6K – $350.1K
NOI $21,006 @ 7.0% cap · market cap 4.20%
Second Best
Apartment 5plus
$274.2K
$239.9K – $319.9K
NOI $19,192 @ 7.0% cap · market cap 3.84%
Theoretical Best
Office A
$402.4K
$352.1K – $469.4K
NOI $28,166 @ 7.0% cap · market cap 5.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,568
Businesses Nearby
Explore this area
Business Placement
Demographics for 80211, CO
37,940
Population
20,973
Households
1.8
Avg Household Size
34
Median Age
71%
College-Educated
92%
High-School Grad
4.5 sq mi
ZIP Area
8,431
Density / Sq Mi
$117,685
Median Household Income
$78,573
Median Earnings
$1,931
Median Rent
$747,800
Median Home Value
Market
Vacancy Rate% for Office in Denver, CO
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - G-MS-3 zoning supports a flexible combination of residential living and commercial activity.
Where is this duplex located?
The property is located at 2543 Eliot St Denver, CO.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 1883 duplex with original architectural details and contemporary updates; G‑MS‑3 zoning supports live/work use; Two bedrooms plus a non‑conforming third room
